[ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 654.

mtbitcoin

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Etherscan.io

Quote from: PhantomPhreak on January 04, 2014, 09:09:19 AM

Quote from: xibeijan on January 04, 2014, 09:02:24 AM

Quote from: ?? on ??

Quote from: mtbitcoin on January 04, 2014, 08:49:24 AM

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

Cheers

The latter.

So,

Do we need to make sure the coins are sent from a single address still?

Also, do we need

txindex=1
server=1

Anymore?

Can I burn from the MultiBit bitcoin client?

Thanks.

I've disabled that feature for now, as it opens up a whole can of worms. (How can Bitcoind still not have coin control?!)

EDIT: Seriously, though, sorry for the mixed messages. I was being overeager.

Neat. I only saw one transaction that was directly sent to the exodus address from a non CounterParty client

Wondering if there were any updates on the build issues on windows? Has anyone successfully build the counterparty client on windows?

Cheers

PhantomPhreak

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Activity: 476

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Counterparty Chief Scientist and Co-Founder

Quote from: reader31 on January 04, 2014, 09:57:00 AM

Just woke up...wanted to test if the burn is going through now...After rebuilding counterpartyd, the burn still fails with this message,

Quote

Burn did *not* appear to be successful. Full output from Eligius:

Eligius - Push Transaction


Trying to send...
array(3) {
  ["result"]=>
  NULL
  ["error"]=>
  array(2) {
    ["code"]=>
    int(-22)
    ["message"]=>
    string(11) "TX rejected"
  }
  ["id"]=>
  string(1) "1"
}
Response = 0

false

I assume this is still being worked on?

Didnt mean to hurry u guys...just want to make sure I can get going as soon as the update is working. Thx for being so responsive...I'm already beginning to like this team

Yes, we're aware of this issue and working on it.

wizzardTim

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Reality is stranger than fiction

Quote from: PhantomPhreak on January 04, 2014, 10:06:35 AM

Quote from: wizzardTim on January 04, 2014, 09:48:12 AM

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

You shouldn't actually need to download a complete copy of the blockchain in order to burn. You should be able to pass counterpartyd the flag --force and, as long as Bitcoind is running with the correct options, it will ignore the fact that it hasn't caught up with the network yet.

That's great news!

bitcoinrocks

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Quote

How is the price determined?

Quote

Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

Thank you PhantomPhreak. I would need both bitcoind and counterpartyd running? It sounds like there are plans to have intermediaries do the burning for people soon so they don't have to set this up?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: wizzardTim on January 04, 2014, 09:48:12 AM

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

You shouldn't actually need to download a complete copy of the blockchain in order to burn. You should be able to pass counterpartyd the flag --force and, as long as Bitcoind is running with the correct options, it will ignore the fact that it hasn't caught up with the network yet.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: bitcoinrocks on January 04, 2014, 09:39:20 AM

How is the price determined?

Right now, XCP are being rewarded to those that burn BTC at a price between 1500 XCP/BTC and 1000 XCP/BTC. The exact formula is:
XCP_EARNED = BTC_BURNED * (1000 * (1 + .5 * ((END_BLOCK - CURRENT_BLOCK) / (END_BLOCK - START_BLOCK))

reader31

full member

Activity: 221

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Just woke up...wanted to test if the burn is going through now...After rebuilding counterpartyd, the burn still fails with this message,

Quote

Burn did *not* appear to be successful. Full output from Eligius:

Eligius - Push Transaction


Trying to send...
array(3) {
  ["result"]=>
  NULL
  ["error"]=>
  array(2) {
    ["code"]=>
    int(-22)
    ["message"]=>
    string(11) "TX rejected"
  }
  ["id"]=>
  string(1) "1"
}
Response = 0

false

I assume this is still being worked on?

Didnt mean to hurry u guys...just want to make sure I can get going as soon as the update is working. Thx for being so responsive...I'm already beginning to like this team

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: xibeijan on January 04, 2014, 09:42:49 AM

Umm... I can get counterpartyd running myself, no problem.

However, your posts have confused me.

I have bitcoind running, as you previously specified.

Can you please summarise what is the current procedure for burring BTC to get XCP on the main net?

Thanks!

Oh, I misunderstood. The instructions are in the second post in this thread. Are they not clear enough?

wizzardTim

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Activity: 1708

Merit: 1000

Reality is stranger than fiction

Quote from: PhantomPhreak on January 04, 2014, 09:45:38 AM

Quote from: wizzardTim on January 04, 2014, 09:35:23 AM

So we cannot use MultiBit client?

Sorry, no.

So only qt in windows, right?

Too bad cause i dont have space for the whole blockchain.

Would be greatly appreciated if you provided us another option, before minimizing the reward.

Thanks

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: wizzardTim on January 04, 2014, 09:35:23 AM

So we cannot use MultiBit client?

Sorry, no.

xibeijan

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Quote from: PhantomPhreak on January 04, 2014, 09:31:30 AM

Quote from: xibeijan on January 04, 2014, 09:22:15 AM

Sorry, I'm totally confused now.

Can you please post the complete steps and requirements for burning?

I would like to give it a go!

I'm sorry, but it's too dangerous to accept burns from just any ol' client: counterpartyd is extremely strict when it comes to how it constructs its transactions so there is no ambiguity in how any given transaction should be interpreted. I would really like to avoid facing the problems that other projects have come up against that are a consequence of having a poorly defined protocol. The Counterparty team is working hard on getting some trusted members of the community on board who would be willing to buy XCP on your behalf. For now, if you can't get counterpartyd running yourself, you'll have to wait to invest.

Umm... I can get counterpartyd running myself, no problem.

However, your posts have confused me.

I have bitcoind running, as you previously specified.

Can you please summarise what is the current procedure for burring BTC to get XCP on the main net?

Thanks!

bitcoinrocks

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Activity: 1372

Merit: 1000

How is the price determined?

wizzardTim

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Activity: 1708

Merit: 1000

Reality is stranger than fiction

So we cannot use MultiBit client?

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: xibeijan on January 04, 2014, 09:22:15 AM

Sorry, I'm totally confused now.

Can you please post the complete steps and requirements for burning?

I would like to give it a go!

I'm sorry, but it's too dangerous to accept burns from just any ol' client: counterpartyd is extremely strict when it comes to how it constructs its transactions so there is no ambiguity in how any given transaction should be interpreted. I would really like to avoid facing the problems that other projects have come up against that are a consequence of having a poorly defined protocol. The Counterparty team is working hard on getting some trusted members of the community on board who would be willing to buy XCP on your behalf. For now, if you can't get counterpartyd running yourself, you'll have to wait to invest.

xibeijan

legendary

Activity: 1232

Merit: 1001

Quote from: PhantomPhreak on January 04, 2014, 09:09:19 AM

Quote from: xibeijan on January 04, 2014, 09:02:24 AM

Quote from: ?? on ??

Quote from: mtbitcoin on January 04, 2014, 08:49:24 AM

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

Cheers

The latter.

So,

Do we need to make sure the coins are sent from a single address still?

Also, do we need

txindex=1
server=1

Anymore?

Can I burn from the MultiBit bitcoin client?

Thanks.

I've disabled that feature for now, as it opens up a whole can of worms. (How can Bitcoind still not have coin control?!)

EDIT: Seriously, though, sorry for the mixed messages. I was being overeager.

Sorry, I'm totally confused now.

Can you please post the complete steps and requirements for burning?

I would like to give it a go!

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: xibeijan on January 04, 2014, 09:02:24 AM

Quote from: ?? on ??

Quote from: mtbitcoin on January 04, 2014, 08:49:24 AM

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

Cheers

The latter.

So,

Do we need to make sure the coins are sent from a single address still?

Also, do we need

txindex=1
server=1

Anymore?

Can I burn from the MultiBit bitcoin client?

Thanks.

I've disabled that feature for now, as it opens up a whole can of worms. (How can Bitcoind still not have coin control?!)

EDIT: Seriously, though, sorry for the mixed messages. I was being overeager.

xibeijan

legendary

Activity: 1232

Merit: 1001

Quote from: ?? on ??

Quote from: mtbitcoin on January 04, 2014, 08:49:24 AM

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

Cheers

The latter.

So,

Do we need to make sure the coins are sent from a single address still?

Also, do we need

txindex=1
server=1

Anymore?

Can I burn from the MultiBit bitcoin client?

Thanks.

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Quote from: mtbitcoin on January 04, 2014, 08:49:24 AM

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

If this applies to the bitcoin QT client, isn't it possible that the coins can come from multiple addresses and as the client lack "coin control"?

Cheers

Yes, I was just realising that. I'll disable the feature for now.

mtbitcoin

legendary

Activity: 876

Merit: 1000

Etherscan.io

Quote from: PhantomPhreak on January 04, 2014, 08:39:17 AM

Important update: Now you can use any Bitcoin client to burn BTC for XCP. Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

Hi PhantonPhreak

Can you clarify on the above? Do you mean that "counterpartyd.py" will now work with any Bitcoin client or are you saying that we can just send coins to the exodus address '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' from a client that we have control for?

If this applies to the bitcoin QT client, isn't it possible that the coins can come from multiple addresses and as the client lack "coin control"?

Cheers

PhantomPhreak

sr. member

Activity: 476

Merit: 300

Counterparty Chief Scientist and Co-Founder

Important update: Now you can use any Bitcoin client to burn BTC for XCP.[/b] Just send BTC to the unspendable addresses '1CounterpartyXXXXXXXXXXXXXXXUWLpVr' (mainnet) and 'mvCounterpartyXXXXXXXXXXXXXXW24Hef' (testnet). Be careful not to try to burn more than 1 BTC per address. If you do, your last attempted burn will be completely invalid.

EDIT: Right now you should still only use counterpartyd to burn.

Topic: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread - page 654. (Read 1277023 times)